{"id":17027,"date":"2024-04-01T18:15:24","date_gmt":"2024-04-01T18:15:24","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=17027"},"modified":"2024-04-01T17:47:38","modified_gmt":"2024-04-01T17:47:38","slug":"bitcoin-faces-major-resistance-barrier-on-path-to-all-time-high-analysts-warn","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/bitcoin-faces-major-resistance-barrier-on-path-to-all-time-high-analysts-warn\/","title":{"rendered":"Bitcoin Faces Major Resistance Barrier on Path to All-Time High, Analysts Warn"},"content":{"rendered":"

Bitcoin<\/a>‘s journey to its all-time high (ATH) is marked by a significant barrier looming ahead, with a whopping 599,260 BTC forming a major resistance level, according to a top analyst.<\/p>\n

Ali Martinez, a prominent crypto analyst, has identified crucial levels for Bitcoin’s next upward movement. Despite finding stability around $68,300, Bitcoin risks a downturn to the range of $65,250 to $63,150 if it dips below this mark, as per Ali’s analysis.<\/p>\n

Remarkably, within this support range, Ali highlights that approximately 760,000 wallets have purchased 520,000 BTC. This sizable ownership indicates a substantial portion of crypto investors have stakes in Bitcoin at this level, rendering it a critical juncture to monitor.<\/p>\n

The key resistance level identified by Ali’s analysis lies at $70,320, where a significant volume of 599,260 BTC from 736,380 addresses awaits. Breaking through this resistance could pave the way for Bitcoin to sustain its bullish trajectory. Notably, Ali’s chart indicates that 64.52% (1.82 million BTC<\/a>) is currently profitable, while the remaining 35.45% (998,910 BTC) is underwater.<\/p>\n

As of now, Bitcoin is trading at $69,709, accompanied by a surge in trading volume by 49.76% to $25.9 billion. Its market capitalization stands strong at $1.3 trillion, reflecting the ongoing bullish sentiment.<\/p>\n

In other news, well-known economist Peter Schiff humorously predicted a Bitcoin price of $94,000, likening it to the value of a dollar. Despite the jest, such a figure resonates given Bitcoin’s recent historic surge, defying expectations and reaching unprecedented levels.<\/p>\n

Additionally, renowned investor Tim Draper revealed his investment of 300 Bitcoin in a crypto firm, securing a 4% stake. Over a decade, Draper claimed to have gained 15 BTC from this investment, which, while seemingly modest, translates to a remarkable 15x return when measured in dollars.<\/p>\n

You can freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0Telegram<\/strong>\u00a0 ,<\/a>YouTube<\/strong><\/a>\u00a0and\u00a0Twitter<\/strong><\/a>\u00a0channels for the latest news and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin‘s journey to its all-time high (ATH) is marked by a significant barrier looming ahead, with a whopping 599,260 BTC forming a major resistance level, according to a top analyst. Ali Martinez, a prominent crypto analyst, has identified crucial levels for Bitcoin’s next upward movement. Despite finding stability around $68,300, Bitcoin risks a downturn to<\/p>\n","protected":false},"author":6,"featured_media":16283,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[61,1766,60],"class_list":["post-17027","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-analysis","tag-bitcoin","tag-bitcoin-btc","tag-btc"],"yoast_head":"\nBitcoin Faces Major Resistance Barrier on Path to All-Time High, Analysts Warn - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Bitcoin's journey to ATH is marked by a significant barrier looming ahead, with a whopping 599,260 BTC forming a major resistance level.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/bitcoin-faces-major-resistance-barrier-on-path-to-all-time-high-analysts-warn\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Faces Major Resistance Barrier on Path to All-Time High, Analysts Warn - 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